New Study Reveals how Small Business Owners Are Using AI

Generative AI such as ChatGPT and Midjourney has created a massive paradigm shift in numerous industries around the world, and it turns out that small business owners are using it to great effect as well. GoDaddy recently conducted a survey of over 1,000 small business owners who are based in the US, and the findings of this survey can tell us a lot about the impact that AI has had on them with all things having been considered and taken into account.

83% of business owners that responded to this survey stated that their main focus as of right now is to grow as quickly as possible. With all of that having been said and now out of the way, it is important to note that AI can be a big help to them in that regard. Business owners are frequently turning to AI in order to get some of the most complicated tasks done more easily than might have been the case otherwise.

Around 38% of these survey respondents stated that they have used AI already, with 27% saying that they are just playing around with it for fun, and the remaining 11% using it in more precise ways to help grow their business. 57% said that they want to learn more about AI because of the fact that this is the sort of thing that could potentially end up allowing them to use it more effectively.

Out of all of the business owners that have used AI up until this point, 75% said that they are more than satisfied by how the tools have performed. Content generation seems to be a major aspect of AI usage among these individuals, with 64% saying that they are utilizing AI for this. However, this is not the only practical advantage of using AI as far as small business owners are concerned.

29% are also using AI to improve the quality of their customer service by drafting responses without having to put quite as much time into it. Since 42% of small business owners cited attracting new customers as their biggest concern, this just goes to show that AI can be a useful tool for them in their growth journeys.

One thing that bears mentioning is the generational gap that can be seen with AI usage. Participants who belong to Gen Z, being between 18 to 24 years of age, were far more likely to use AI in such a manner. 63% of Gen Z admitted to using AI either in a personal capacity or to get stuff done for their businesses and enterprises. This is compared to just 17% of Baby Boomers who said the same.

In spite of the fact that this is the case, there seems to be a serious problem with understanding the mechanisms behind AI. Just 33% of poll participants said that they would be able to explain generative AI without requiring assistance, which indicates that educating users will be a prime concern moving forward. All in all, AI is still at the start of its journey, and as it continues to advance more and more people will begin playing around with it which includes the owners of businesses.

Read next: AI Transforming Marketing Strategies for Efficiency and Success
Previous Post Next Post